While tower cranes have risen with regularity across downtown, McCaffery Interests is quietly moving forward with The Lincoln Common, its redevelopment of the Children's Memorial Hospital campus in Lincoln Park. Last week, the Chicago Department of Buildings issued two construction permits for one of the $350M project's linchpins.

The permits cover the construction of a 20-story mixed-use tower that will eventually include 269 apartments. That building will be built on a site at 2335 North Lincoln and 2345 North Lincoln. The work covered under the permits is valued at $119.2M.

McCaffery took control of the Children's Memorial site in 2015, and brought in Hines Interests as a partner for the redevelopment. Demolition of the Children's Memorial campus started in June 2016. The Lincoln Common will include 100K SF of retail, 538 apartments, 40 luxury condos, a five-story boutique office building, a 156-room senior living facility, an 850-car parking garage and over an acre of public space.

McCaffery Interests Senior Managing Director Clayton McCaffery is a panelist at Bisnow's Big Midwest Multifamily event at the J.W. Marriott Chicago on Nov. 27.